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The Increasing Adoption of Cloud-based SCM Services is Hindering the On-premise SCM Market Growth
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The Indian SCM market experienced healthy growth in the year 2018 and both web and email segments saw steady growths. A key driver of SCM solutions can be attributed to the large enterprise sector preferring to adopt standalone SCM solutions due to the need for high performance and purpose of forensics, and privacy. However, increasing amount of Indian enterprises are shifting to use more integrated solutions as compared to standalone SCM products. This shifting of preferences from on-premise solutions to cloud based security solutions will be a critical issue in the coming years. With increased digitalization of the banking services in India, the number of threats from cyber-attacks and phishing frauds saw a rise and this drove the banking sector to record the highest spending on SCM solutions in 2018. Similarly, the Indian government is aiming to digitalize all government office and institutes’ services by 2020 and would need to develop secure infrastructure and platforms for their citizens to access these services online. This will stimulate the increasing demand for email security solutions by the government moving forward.In addition to market growth analysis, the study highlights the key driving forces of the secure content management market. Key drivers include email and web channels remaining as the most popular and effective methods used to launch attacks, driving the need for email and web gateways; Strong requirements for security and privacy encourage organizations to spend on on-premise email and web security solutions; Increasing awareness of the need to manage internet traffic and to improve employee productivity is expected to prompt enterprises to deploy web security solutions at a wider scale.Market trends are analyzed for the study period 2019 to 2023, with the base year being 2018. Secure content management solution is the key focus area in this study which covers email security and web security. The vertical segmentation in this study includes the government, banking, financial services and Insurance (BFSI), service provider, manufacturing, education, and other sectors including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, IT/ITES, e-Gaming, e-Commerce, and BPOs.Companies mentioned in the Indian SCM market competitive landscape include Symantec, Forcepoint, Cisco (Ironport), Trend Micro, SonicWall, Barracuda, F-Secure, McAfee, Kaspersky and other vendors. Key Questions This Study Will Answer • Is the SCM market growing, how long will it continue to grow, and at what rate?• What are the key trends of the SCM market in 2018 and moving forward?• What are the key drivers and restraints of the market? • How is the market performance in 2018?• What is the competitive landscape across India?• What is the market growth forecast from 2018- 2023?
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